NYC Tax Savings: 10 brand-new condos with 421-A tax abatements



Boutique to mid-size new developments with units carrying a 421-A Tax Abatement

From Future New York

NYC Tax Savings: 10 brand-new condos with 421-A tax abatements

By CityRealty Staff

February 10, 2020

While the sticker price is the first thing that gets prospective New York City condo buyers’ attention, it should not be the only thing. Real estate taxes can come as an unpleasant shock, but they are a monthly expense that must be considered along with everything else.

Thankfully, New York City has several programs in place to temporarily reduce the tax burden for years to come, which can lead to savings of thousands of dollars. Further details on the most common types can be found here.

Of the following buildings throughout the boroughs, it’s hard to say what’s more beautiful: the listings inside, or the tax abatements offered. We’ve highlighted our favorites below.

↓ Hero LIC, 24-16 Queens Plaza South

421-A tax abatement

All images of Hero LIC via Nest Seekers

All units in Hero LIC were designed to make the most of their space and natural light. Features include oversized windows, open floor plans, generous closet space, kitchens with abundant cabinetry and high-end appliances, and pristine baths. The full-service building’s 15,000 square feet of amenities include a state-of-the-art wellness center with yoga studio and veranda, a dining space, a package room, a bike room, a Zen garden, and a roof deck with grilling and lounging areas.

Hero LIC has 8 available listings from $710K – $1.33M.


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Silverback Development is a forward-thinking real estate developer, owner and investor with a reputation for establishing solid partnerships and transforming properties into successful income producing and profitable assets.


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